Oil & Gas Royalties & Mineral Interests

7 members, BSM to VNOM, A to Z by ticker.

Gross profitability: not read: no member carries three readable years of gross profit and total assets
Capital intensity: median 1.0% — capital expenditure as a share of revenue, each member's median across its readable years; read on 3 of 7 members
Net cash: 1 of the 5 members with a readable debt line hold more cash and short-term investments than total debt

Figures describe the list as a group, from each member's own filed record; they name no member and form no rank. A member missing an input is absent from that median, never counted against the others.

From the latest filings · data as of August 17, 2026.

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BSM Black Stone Minerals L.P. Common

Revenue is Crude Oil (45%), Natural Gas (41%) and Real Estate (5%).

Owner earnings 2016–2025 $195M$279M$379M$370M$282M$247M$425M$507M$344M$273M

Retained capital Retained $2.4B of earnings over 2016–2025; annual owner earnings grew $90M, $0.04 per $1 retained.

Balance sheet Modest net debt, $153M

DMLP Dorchester Minerals L.P. Common

Revenue is led by Royalties, Oil (75%) and Net Profit Interests (9%), with 3 more lines behind.

Owner earnings 2017–2018 $43M$62M

Retained capital not read

Balance sheet Net cash, debt-free, +$42M

KRP Kimbell Royalty Partners

Revenue is led by Oil revenue (59%) and Natural gas revenue (23%), with 2 more lines behind.

Owner earnings 2018–2025 $33M$69M$14M$55M$117M$78M$251M$122M

Retained capital Paid out $104M more than it earned over 2018–2025; annual owner earnings grew $112M.

Balance sheet Meaningful net debt, $398M

LB Landbridge Company LLC

A property business, read on funds from operations and net asset value rather than reported earnings.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied

NRP Natural Resource Partners LP

A capital-intensive business, run on heavy physical assets that must be kept working and earn a return above what they cost to maintain.

Owner earnings 2016–2025 $108M$127M$189M$89M$122M$267M$311M$248M$166M

Retained capital Retained $1.0B of earnings over 2016–2025; annual owner earnings grew $100M, $0.10 per $1 retained.

Balance sheet Heavy net debt, $837M · dividend paid 1 of 9 yrs, never cut

TPL Texas Pacific Land

Texas Pacific Land Corporation is a Delaware Corporation and one of the largest landowners in the State of Texas with approximately 882,000 surface acres of land, principally concentrated in the Permian Basin.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied · buybacks at an average near $1,151 · dividend paid 5 of 5 yrs, cut at least once

VNOM Viper Energy

Revenue is Oil income (81%), Natural gas liquids income (11%) and Natural gas income (4%).

Owner earnings not read

Retained capital not read

Balance sheet Net debt against an operating loss, $2.2B

The same shelf as one comparative table, every member a row and every column sortable: the Oil & Gas Royalties & Mineral Interests table →

The same four lines for every member, in strict ticker order; a figure that could not be read renders as "not read," never as a mark against the record beside it. The header describes the list and names no member; the entries carry no ranking and form no score. What a chapter cannot carry — understanding of the business, and a price — is yours.